29 March 2012
On realisation of proceeds of export sales which were discounted, the remitters' foreign bank has levied certain charges which is reduced from the remittance amount and balance is remitted to receivers' bank account:
What would be the treatment of this amount as reduced by foreign bank:
a.Finance Cost booked under Bank Charges b. Reduction in Receivables c. Reducing this amount while calculating the FX Gain/Loss
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